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Interesting read on diamonds published last year https://www.rough-polished.com/en/analytics/120136.html
For newbies this is how the tweet is linked to Vast, taken direct from Vasts website:
The Chiadzwa Diamond Fields located in Marange are widely regarded as the richest alluvial diamond deposits globally.
In September 2019, the Company announced it has signed a Joint Venture Agreement with Chiadzwa Mineral Resources (Pvt) Ltd (“CMR”), a company designated to represent the Chiadzwa Community interests in the Concession. This resulted in the formation of Katanga Mining (Pvt) Ltd (”Katanga”). A further Joint Venture Agreement between Katanga and the Zimbabwe Consolidated Diamond Company (Pvt) Ltd (“ZCDC”), a government entity which represents the Republic of Zimbabwe in the diamond mining sector, is set to be officially signed. Details of the Chiadzwa JV will be announced at the same time as the announcement of the ZCDC JV to which it is linked
https://twitter.com/ZCDC_official/status/1394640652261003267?s=09
Invest in answer to your question:
If Atlas request a payment then Vast have an option
#1. Make the payment in cash, in which case if they ask for $500K we pay them $555K
#2. Issue conversion shares with an equivalent value to the $500K, with the price per share being determined by the vwap for the 20 trading days prior to the request times 0.9, thus giving them the same additional return that they get if the cash payment is made.
I assume Atlas would prefer a much more buoyant market with a higher SP as it's then easier to flip the conversion shares as they don't hold for any longer than is absolutely necessary
Invest, the higher the SP when atlas convert the more money they make so that’s the reason I don’t think they’ll do it at an all time low, plus having converted back in January I don’t think it will be for at least another couple of months, I think Vast will be talking to atlas about the plans more than they are telling us which is going to make them hold off on converting for now, that’s my opinion that’s all
Ant, yes I will continue to add below 10p that’s for sure, Yeah at least we all agree on one thing Atlas will need paying in some form by Jan 2022, (unless some other finance news or diamonds comes out that hasn’t been released yet which is possible)
Invest, I said in my last post atlas can convert whenever they like! I expect them to wait until later in the year though that’s my opinion your opinion is they’ll convert tomorrow both are valid opinions but disagree with one another, the other fact is Vast don’t know when Atlas will convert so you trying to scare people into selling when most likely your buying at the lowest lows is wrong, all the best whatever people decide to do at the end of the day it’s there investment and money and as always DYOR
Ant I know exactly no one knows Atlas might not come knocking until Jan 2022 but yeah could come knocking tomorrow, I think it won’t be until later in the year as only received a payment in January, the thing is Vast themselves don’t even know when Atlas want there money so not even like Vast can say yeah come November we’ll do an atlas payment
https://twitter.com/vast_resources/status/1394201020314656774?s=09
Jimjam, it might be your worst performing share but we are currently at the lowest lows so sadly now is the time to be buying if you can not once it’s spiked with news imo I’ve been spiked so many times as I’ve bought after news
The thing is donotpanic, when this reaches over 10p That’s when FOMO kicks in and before you know it we are at 15-16p. We all know when the bashers arrive it’s going to be a blue day! Anyway good weekend all catch you next week, hopefully the bashers are back as it means more blue days ;)